Schedule of Prices in NZ Construction Tenders: A Practical Review Guide
A Schedule of Prices is part of the tender package, not a spreadsheet to read last
A Schedule of Prices is often the document where technical scope becomes a commercial response. It may be an Excel workbook, PDF schedule or bill-style document. It can contain work sections, quantities, units, rates, lump-sum items, provisional items, variations, preliminaries and instructions that are easy to miss if the team starts only from the drawings.
The label does not tell you everything. A tender might use a Schedule of Prices, Schedule of Quantities, Bill of Quantities, pricing schedule or another project-specific name. The documents and tender instructions determine what must be priced, what is provisional and how the completed schedule is to be returned.
The question is not simply “have all cells been filled?” It is “does the pricing document align with the work, instructions and commercial basis in the rest of the package?”
Start with the workbook structure
Before pricing, list every worksheet, heading and instruction. Note which tabs contain priceable items and which contain assumptions, rates, variations, summary totals or tender-return information.
| Workbook area | What to inspect | Why it matters |
|---|---|---|
| Cover or instructions tab | Required format, rounding, GST treatment, locks and return instructions | These can affect whether the submission is conforming. |
| Work sections | Trade or location breakdown | Helps map price items to the technical documents. |
| Quantity and unit columns | Supplied quantities, unit descriptions and rate fields | Shows how the purchaser expects the work to be priced. |
| Lump-sum items | Scope wording and inclusions | A single total may carry a large part of the risk. |
| Provisional or contingency items | Description, allowance and pricing direction | These should not be silently treated as ordinary measured work. |
| Variations or daywork tabs | Rates, mark-ups and resource assumptions | These can affect later commercial administration. |
| Summary and total tabs | Links, totals and tender return fields | Use to check completeness, not as the only review point. |
Connect each section to the tender documents
A pricing schedule cannot be reviewed in isolation. For each main section, identify the matching drawing, specification, scope statement or work package. If a cell refers to a work item that is not obvious in the documents, flag it for investigation. If drawings or specifications appear to require work that has no evident pricing line, flag that too.
This is not a quantity take-off exercise. It is a traceability exercise. The team needs a clear path from technical requirement to price item before it can understand what the submitted total includes.
The New Zealand Government Procurement construction guidelines publish official material on construction tendering, measurement contracts, lump-sum contracts and target cost pricing.[1] These materials show why the pricing mechanism and project context matter. They are useful background; the tender's own pricing instructions still take priority.
Understand the price basis stated in the package
A package may use a lump-sum price, a measure-and-value arrangement, target-cost approach or another mechanism. Never infer the price basis solely from the appearance of columns in Excel. Read the conditions and the pricing instructions together.
The government guidance includes separate information sheets on measurement contracts, lump sum contracts and target cost pricing.[1] This is a useful reminder that different mechanisms place different importance on quantities, rates, risk allowances and later valuation. The right tender review outcome is a sourced statement of what the documents say, not an assumed classification.
| Question | Where to look | What to record |
|---|---|---|
| What price model is named? | Conditions, form of tender and price instructions | Exact wording and source reference. |
| Are quantities fixed, indicative or supplier-provided? | Workbook notes and specifications | Any qualification or instruction. |
| Are rates required? | Price columns and tender schedules | Which sections call for rates versus totals. |
| Are provisional items identified? | Item description, unit and instructions | Item identifiers and wording. |
| How are variations addressed? | Variations tab, contract conditions and schedules | Whether rates, mark-ups or resource rates are requested. |
Check the commercial details before submission
A practical pre-submission review should include the following:
- Confirm that every required priceable section has been reviewed.
- Check for hidden or non-visible worksheets, notes and instructions.
- Review units, decimal places, GST treatment and requested rounding.
- Identify provisional, contingency, daywork and variation-related items separately.
- Compare summary totals with the underlying worksheet totals.
- Check that all cells required by the tender have been completed in the requested format.
- Confirm that assumptions or qualifications are expressed only where the tender process permits them.
- Preserve the original workbook structure unless the purchaser has stated otherwise.
GETS explains that suppliers must follow the purchasing agency's stated directions for tender responses and attachments.[2] That is why the submission requirements in the notice and conditions should be read alongside the workbook instructions.
Schedule of Prices versus Schedule of Quantities
These terms are sometimes used loosely in conversation, but they should not be treated as interchangeable without checking the package. A pricing document may provide quantities for the supplier to price, request quantities from the supplier, or use a schedule primarily for rates and later valuation. The title alone does not resolve the commercial position.
Standards New Zealand lists NZS 4202:1995 as a standard related to measurement and presentation of building works.[3] Its existence is useful context, but it does not remove the need to read the tender's own measurement and pricing wording. A contractor should not assume a measurement standard applies unless the documents say so.
Where TenderBrief fits
TenderBrief reads supported Excel workbooks deterministically, including worksheets and table-like pricing sections. It can help create a readable summary of priceable items and related facts from a package that also contains PDFs and Word documents. It does not calculate quantities, insert tender prices or decide what the contractor should allow for risk.
Create a free TenderBrief account to review the tender documents and Schedule of Prices together.
References
TenderBrief provides document-review assistance, not legal, engineering, procurement or pricing advice. Always follow the tender documents and obtain specialist advice where needed.